Aside from providing affordable housing loans to Filipinos, the Pag-IBIG Fund also offers a host of exciting perks to its members.

Beyond providing affordable housing loans for millions of Filipino workers, the Home Development Mutual Fund (HDMF)—also known as the Pag-IBIG Fund—is also offering a host of exciting perks and programs. To fully utilize your membership, here is a list of perks and services that every Pag-IBIG Fund member should know.

Your contribution is also an investment
Not known to many, the Pag-IBIG Fund is also primarily intended to facilitate a national savings program for Filipinos. True to its purpose, you can take advantage of your Pag-IBIG Fund membership by using your contributions to start saving.

There are two types of contributions under the Provident Savings Program of the agency. The first and more common form is Pag-IBIG I where employers and employees will share a minimum deposit of Php200 every month. When a member reaches a total of 24 months contributions, he or she can avail of the Multi-Purpose Loan (MPL), Calamity Loan, or any of the housing loans offered by the Pag-IBIG Fund.

In addition, Pag-IBIG I contributions will mature and can be claimed upon reaching 240 contributions or the 20th year. For bigger savings and larger MPL loan values, employees and individual payers can opt to contribute more than the minimum Php100.

The second type is the Modified Pag-IBIG II (MP2) Program, an additional and voluntary five-year savings facility being offered by HDMF to its Pag-IBIG I members. For a minimum share of Php500 per employee per month, the member will enjoy the savings plus dividends upon maturity or in five years.

Higher contributions means higher dividends
As you increase your monthly contributions, your earned dividends will also increase. For 2016, the total dividend for every contributing member is pegged at 4.8 percent interest rate per annum. A sample computation goes like this:

Monthly Contribution Employee’s Share

Total Savings in 20 Years

Total Savings with 4% Annual Dividends

Php500

Php120,000

Php182,539.62

Pag-IBIG Fund Balik Savings
Pag-IBIG Fund members who have reached 65 years of age can fully claim their monthly contributions, employer’s counterparts, and earned dividends. This is a helpful feature for retired and Filipino senior citizens who deserve to enjoy the fruits of their years of hard work.

Multiple housing loans
As amended last May 2015, a Pag-IBIG Fund housing loan borrower can now avail of multiple housing loans provided that the total loan amount will not exceed Php6 million and the entire sum is still within the member’s financial capacity to pay. This is good news to house hunters who are eyeing two adjacent lots or a borrower who already has an existing loan but still wish to acquire another property.

Increase yoour chances of owning a home through Pag-IBIG Fund's many home loan options. Photo via Shutterstock

Pag-IBIG Fund Loyalty Card
Loyalty cards are now the “in” thing among malls, department stores, groceries, retail shops, boutiques, restaurants, and many others. Following this trend, the Pag-IBIG Fund recently launched its own version in which members can enjoy special rewards and discounts when they pay for medicine, tuition, fuel, and purchases from partner merchants. To apply for the Pag-IBIG Fund’s Loyalty Card, just go to the nearest Pag-IBIG office (an application fee of Php100 applies). Check here for a complete list of benefits and partner merchants.

Wide-ranging payment facilities and e-services
To ensure easier and faster transactions, individual paying members of the agency can now choose from a variety of payment channels. The Pag-IBIG Fund now accepts payments made through Bayad Center outlets, SM Business Centers, Save More, and SM Hypermarket. In addition, members can also pay their monthly contributions through Globe’s GCASH, or by using their Visa or MasterCard credit card.

To make its services better, the Pag-IBIG Fund is now online and interactive. Its portal is now a one-stop shop where services range from getting a member’s identification number (or MID) to printing and checking a housing loan billing statement.